United States (USA) Battery Energy Storage System Market worth $7.02 billion by 2029 - Exclusive Report by MarketsandMarkets™
DELRAY BEACH, Fla., April 9, 2025 /PRNewswire/ -- The US Battery Energy Storage System market is expected to reach USD 7.02 billion by 2029, up from USD 2.13 billion in 2024, at a CAGR of 26.8% from 2024 to 2029 according to a new report by MarketsandMarkets™. The increasing demand for Battery Energy Storage Systems (BESS) in the US is driven by factors such as increasing mandates to integrate intermittent renewable energy sources like solar and wind into the grid and the growing need to bolster grid resilience against extreme weather and potential disruptions. Along with this, the strong government incentives such as the Inflation Reduction Act, which offers significant tax credits and support to manufacturers are further driving the rapid deployment of BESS solutions.
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The installation of large-scale energy storage systems in the US is projected to rise significantly throughout 2024, driven primarily by a few leading states. According to data from the Energy Information Administration (EIA) released in January 2024, US energy storage system deployment is expected to nearly double in 2024, with battery capacity forecast to increase drastically. The two states i.e. California and Texas have installed the highest number of energy storage systems.
Lithium-ion battery segment to dominate the battery type segment of the market during the forecast period.
Lithium-ion batteries will lead the US BESS market with their higher energy density, efficiency, and falling prices, making them suitable for various applications, ranging from rooftop solar storage to utility-scale grid support. As of 2025, Li-ion technology represents the majority of new deployments of BESS in the United States, powered by advances in manufacturing scale such as Tesla's Gigafactory production and a resilient supply chain that has lowered costs by almost 20% a year over the last decade. Additionally, the major factors driving the growth of the li-ion batteries is their quick response times which is vital for grid ancillary services such as frequency regulation, high cycle life (up to 10-15 years with effective management), and suitability for renewable energy integration, which is in line with the US drive towards a 50% renewable energy blend by 2030. With continued R&D enhancing safety and recycling efficiency, Li-ion's supremacy is likely to continue, cementing its position as the backbone of the US BESS market for at least up to 2030.
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On-grid connection segment to dominate the BESS market during the forecast period.
On-grid systems form a critical part of the BESS market in the US, serving large-scale energy storage by storing excess electrical energy when there is high generation. For instance, sunny or windy days with high solar and wind generation, or low demand, such as nighttime hours. The major uses of on-grid BESS in the US are load leveling for supply-demand balance, peak shaving to offload strain during periods of high usage such as summer afternoons, and power demand management for grid stability. These functions match the needs of US consumers and utilities, and on-grid BESS thus becomes a key element of America's new energy infrastructure.
Utility application segment to hold a substantial market share in the BESS Market.
Utility-scale deployments in the US BESS industry will gain a considerable market share in the forecast period, fueled by growing electricity demand, renewable energy targets, and massive investments in grid modernization. Rising electricity prices, coupled with more frequent power outages caused by extreme weather are some of the factors driving the adoption of BESS among utility companies. Since BESS systems offer the ability to store excess solar energy and provide backup power during outages, they help reduce electricity bills. As awareness of these benefits grows and BESS installation becomes more affordable, utilities will increasingly adopt these systems.
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Key Players
The report profiles key players in the US BESS companies such as Tesla (US), GE Vernova (US), Honeywell International Inc. (US), Johnson Control (US), East Penn Manufacturing Company (US), Primus Power Solutions (US), The AES Corporation (US), KORE Power, Inc. (US), and ESS Tech, Inc. (US). These players have adopted various organic and inorganic growth strategies such as product launches, expansions, partnerships, collaborations, acquisitions, and agreements to strengthen their position in the market.
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